(Answered) The marino company had the following balance sheet on

Accounting

The Marino Company had the following balance sheet on January 1, 2010:

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The Marino Company had the following balance sheet on JanuaryOn January 2, 2010, the Paul Company purchased the Marino Company by acquiring all its outstanding shares for $300,000 cash. On that date the fair value of the current assets was $40,000, and the fair value of the property, plant, and equipment was $240,000. In addition, the fair value of a previously unrecorded intangible asset was $25,000.
Required:
Compute the goodwill associated with the purchase of the Marino Company.

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